Market technicals : keep long view on nifty above 7800 spot

free nifty banknifty stock tips for 1 sep 2015

Nifty Sep future today closed at 8001 with loss of 22 points. In intraday nifty future hit high around 8068 while low was at 7961. Total 105 points intraday swing and closed with loss on profit booking ahead of GDP numbers. Not much change was seen on open interest. Nifty 8200 call options writing was seen in intraday. Here expect high volatility which will subside with time. But overall strategy will remain keep buy and accumulate view above 7800 level.
Banknifty Sep future today closed at 17195 with loss 78 points. In intraday banknifty future hit high at 17430 while low was at 17090. Total almost 250 points intraday range and closed with loss. 1% cut in open interest shows strong profit booking at higher levels. Banknifty 18000 call options writing seen. Here above support of 16950 keep buy and accumulate view.
In nifty 50 stocks, LUPIN and CIPLA rallies 4% each while BHEL and POWERGRID lost 3-4%. In F&O stocks, DIVISLAB and AJANTPHARM gains 5 to 6%. While M&MFIN and SAIL lost 5 to 6%. In buzzing stocks, ALPHAGEO and DSKULKARNI locked to 20% circuit.
For tomorrow, free stock tips will be buy Zodiac Clothing Company Limited stock around 280 with stop loss 260 for swing target 350.

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Pramod Baviskar

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